The Tesla of e-bikes raised more than $550K in its first 24 hours, with an investment average of $7,639, which is approximately $6,000 more than the average Birchal investment.
Tiller Rides is Birchal’s 100th successful raise
“This milestone caps off a record finish to the 2021 financial year, and a flying start since July with 14 funded deals already,” said Matt Vitale, Co-Founder and Managing Director of Birchal.
“And what a brilliant company to pass this significant milestone of 100 successful raises – Tiller is representative of a new breed of businesses fuelled by everyday Australians creating companies that will make us proud on a global stage – shaping a future we all want to see.”
“Tiller Rides has wowed investors as the Tesla of e-bikes due its game changing features. Investors are attracted to its potential impact on the global $23 billion e-bike industry.”
“We have been blown away by the very high average investment, one of the highest in Birchal’s history with $7,639. Record numbers of everyday Australians are backing businesses they believe in, like Tiller, and also gaining access to a new asset class for the first time.”
“Tiller Rides quickly broke through its minimum raise of $500K with 72 investors: 47 investors >$1,000, 31 investors > $5,000, 23 investors > $10,000 and 5 investors > $50,000.”
“The Roadster features advanced and digitally connected e-bikes on the planet – everyone else’s e-bike is like an old phone in comparison,” said Tiller Rides co-founder, Julian Ilich.
“Not only is it cheap to run, costing 20 cents to charge a battery that will last 95-100kms, it has insane features other e-bikes could only dream of.”
“The Roadster includes comprehensive anti-theft system, so you’ll never stress about your bike being stolen again – a retracting Quicktether cable lock and keyless motion sensing alarm, mobile connected GPS tracker and central locking of all other removable features.”
“With a stylish moulded aluminium monocoque frame housing the bike’s battery, electronics, mechanics, and even a storage compartment with a puncture repair kit and rain poncho.”
“Furthermore, our bike doesn’t have a greasy chain that will dirty or chew through your clothes – it has a belt drive powering the tires, one of the only e-bikes in the world that operates this way – and it’s a trend that is quickly catching on.”
Tiller Rides’ Roadsters enter the Australian market
The first 500 Tiller Rides’ Roadsters will begin arriving in Australia this December – fresh off the production line. Global e-bike sales have been booming over the past 12 months due to Covid-19 seeing people shun public transport along with falling battery prices.
“Consumers are becoming more mindful of their health and cutting carbon emissions. E-bike sales data from the last 12 months clearly show this trend with 23% annual growth in Europe, 145% in the US, and 60% here in Australia,” said Julian Ilich.
“One of my favourite features is its connectedness. The bike has its own inbuilt SIM card which connects back to our database. Just like a Tesla, The Roadster can self-diagnose any problems it may be having, and we can often fix your bike remotely by sending updates.”
“Unlike other e-bikes, our customer service team will look after you throughout the bike’s lifecycle! Its mobile or Bluetooth connected app allows you to lock and unlock your bike remotely as well as track your speed and distance travelled.”
“You can charge your phone while you ride via the USB-C port. What doesn’t this thing do!”
With a maximum raise of $2.2 million in shares up for grabs, Tiller Rides will use its capital raise to buy the remaining parts required to turn on the production line and to boost its sales and marketing across Australia so more people can be a part of the clean transport revolution.
As an urban mobility company, Tiller Rides has a fleet of other products planned or in development including an electric scooter, a cargo e-bike, and even a micro car.